                                 CODE OF VIRGINIA

NOTES AND BONDS AS LEGAL INVESTMENTS (§ 36-55.49)

The notes and bonds of HDA shall be legal investments in which all public
officers and public bodies of this Commonwealth, its political subdivisions, all
municipalities and municipal subdivisions, all insurance companies and
associations and other persons carrying on an insurance business, all banks,
bankers, banking associations, trust companies, savings banks, and savings
associations, including savings and loan associations, building and loan
associations, investment companies and other persons carrying on a banking
business, all administrators, guardians, executors, trustees and other
fiduciaries, and all other persons whatsoever who are now or may hereafter be
authorized to invest in bonds or in other obligations of the Commonwealth, may
properly and legally invest funds, including capital, in their control or
belonging to them. The notes and bonds are also hereby made securities which may
properly and legally be deposited with and received by all public officers and
bodies of the Commonwealth or any agency or political subdivisions of the
Commonwealth and all municipalities and public corporations for any purpose for
which the deposit of bonds or other obligations of the Commonwealth is now or
may hereafter be authorized by law including but not limited to security for
deposits pursuant to Chapter 44 (§ 2.2-4400 et seq.) of Title 2.2 and
amendments thereto.

HISTORY: 1972, c. 830; 1975, c. 536.